Encouraging innovation and research

The Government is establishing the largest medical research fund of its kind in the world — the $20 billion Medical Research Future Fund.

The Government is also providing funding for a range of strategic initiatives that will encourage and support leading innovation and research.

The National Collaborative Research Infrastructure Strategy will receive $150 million in 2015‑16.

$139.5 million will be provided to continue the Australian Research Council (ARC) Future Fellowships Scheme, with a renewed focus on Australian researchers.

$92 million will be redirected from the ARC to boost research into tropical health and medicine, dementia and the Antarctic.

Australian‑Chinese business and research collaboration will be boosted by $10 million for the Australia-China Science and Research Fund.

A range of science awareness programmes will be supported, including $13.4 million for National Science Week and the Strategic Science and Communication initiative, and $5.5 million for the Prime Minister's Prizes for Science.

Better targeting of our innovation and research

The Government will better target innovation and research funding to areas of national and strategic priority undertaken by our key national research institutions, including the Commonwealth Scientific and Industrial Research Organisation, the Australian Nuclear Science and Technology Organisation, and the Australian Institute of Marine Science.

This will achieve savings of $146.8 million over four years.

Delivering on the Government's election commitments to fund priority research areas